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1、VerticalIntegration,AppropriableRents,andtheCompetitiveContractingProcessAuthor(s):BenjaminKlein,RobertG.Crawford,ArmenA.AlchianSource:JournalofLawandEconomics,Vol.21,No.2(Oct.,1978),pp.297-326Publishedby:TheUniversityofChicagoPressStableURL:http://www.jstor.org/stable/725234Accessed:04/0
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4、nsmissionmustcontainthesamecopyrightnoticethatappearsonthescreenorprintedpageofsuchtransmission.JSTORisanot-for-profitorganizationfoundedin1995tobuildtrusteddigitalarchivesforscholarship.Weworkwiththescholarlycommunitytopreservetheirworkandthematerialstheyrelyupon,andtobuildacommonresearc
5、hplatformthatpromotesthediscoveryanduseoftheseresources.FormoreinformationaboutJSTOR,pleasecontactsupport@jstor.org.TheUniversityofChicagoPressiscollaboratingwithJSTORtodigitize,preserveandextendaccesstoJournalofLawandEconomics.http://www.jstor.orgVERTICALINTEGRATION-,APPROPRIABLERENTS,AN
6、DTHECOMPETITIVECONTRACTINGPROCESS*BENJAMINKLEINROBERTG.CRAWFORDUniversityofCalifornia,LosAngelesBrighamYoungUniversityandARMENA.ALCHIANUniversityofCalifornia,LosAngelesMOREthanfortyyearshavepassedsinceCoase'sfundamentalinsightthattransaction,coordination,andcontractingcostsmustbeconsidere
7、dex-plicitlyinexplainingtheextentofverticalintegration.'Startingfromthetruismthatprofit-maximizingfirmswillundertakethoseactivitiesthattheyfindcheapertoadministerinternallythantopurchaseinthemarket,Coaseforcedeconomiststobeginlookingforpreviouslyneglectedconstraints
